Canaan Inc. (NASDAQ:CAN) is among the Best Get Rich Fast Stocks to Buy Right Now. As of December 24, Canaan Inc. (NASDAQ:CAN) has a consensus ‘Buy’ or equivalent rating from 86% of the analysts covering the stock. With the median one-year price target of $3, the stock has an upside potential of 281.19%.
On December 8, BTIG initiated coverage on Canaan Inc. with a ‘Buy’ rating and a price target of $3, according to TheFly. This translates to an upside potential of over 280%. Since 2013, the company has produced ASIC mining rigs and now markets its highly efficient A16 model, while also operating a self-mining fleet across eight global data centers and owning approximately 1,600 BTC, the analyst noted.
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Through its vertically integrated strategy, Canaan Inc. remains focused on BTC self-mining expansion, wider rig-manufacturing market share, and power-infrastructure access, BTIG concluded. The company has a dual business model that not only offers mining equipment to third-party operators but also operates its own mining fleet.
In the third quarter of 2025, Canaan Inc. expanded its position in manufacturing by establishing a Bitcoin rig production facility in California, thus enhancing its production capabilities beyond its initial markets. Although the company also holds 4,000 Ethereum, its near-term strategy primarily involves expanding Bitcoin self-mining capacity and growing its share in rig manufacturing.
Canaan Inc. is a Singapore-based company that engages in bitcoin mining machine sales, self-mining operations, and consumer mining products. Incorporated in 2013, the company also assembles and distributes mining equipment and spare parts.
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